The spinoff by Paladin Resources of Marengo Mining Limited was...

The spinoff by Paladin Resources of Marengo Mining Limited was supposed to have floated on the ASX by now.

I have news that Marengo will not be floated on the ASX due to a shortfall of prospectus funds.

This has not been announced to the market yet.

The company will most likely return funds to investors who applied for shares in the prospectus.

Those investors who retained shares from Paladin (via a capital reduction) will most likely be stuck with their holdings until such a time the company reconsiders listing.

I understand that parties are attempting to persuade the board to consider listing on the Newcastle Stock Exchange as an alternative to the ASX.

Hope this information helps.


Regards,